• First gold pour achieved at Challenger Gold Mine
• Ownership increased to 51% in Challenger Mines Pty Ltd
• $1.335 million capital raising through convertible loan notes

Great Divide Mining Ltd (ASX:GDM) has reported its Q1 FY26 results, highlighting several key milestones achieved during the quarter. The company achieved its first gold pour at the Challenger Gold Mine on 16 July 2025, triggering 'Second Completion' under the March 2025 Share Sale Agreement and increasing its ownership in Challenger Mines Pty Ltd to 51%. The company is now pursuing continuous operations at the mine with gravity-based processing using recycled water and no chemical additives, reflecting its commitment to sustainability. GDM also presented the 1st Annual Plan for Challenger to the Joint Venture Committee, setting out production, expansion, and mine redevelopment objectives. However, the Joint Venture parties are currently in dispute, with site operations paused pending resolution. Elsewhere, the Coonambula Antimony-Gold Project continues under the joint venture with Dart Mining NL (ASX:DTM), with DTM funding exploration and earning a 51% equity stake. GDM also completed LIDAR mapping across the Kilkivan and Devils Mountain prospect areas, identifying historical workings for follow-up. On the corporate front, GDM completed a $1.335 million capital raising through the issue of Convertible Loan Notes, surpassing the initial $1.0 million target. The funds will support Challenger optimisation and development milestones.

GDM is aiming to produce 500 oz/month in concentrate at the Challenger Gold Mine in FY2026, expanding to 20,000 oz per annum on commencement of primary mining.

With the first gold pour achieved and new capital secured, GDM's priority is ramping up production, expanding its resource base, and continuing to deliver value for shareholders as it heads into FY26.